A short statement from Viridor’s Pennon Group parent company said that Mr McAulay was leaving “to pursue other opportunities”.
Mr McAulay joined Viridor in 2013, (see letsrecycle.com story) and has been involved in developing Viridor from a traditional waste management business to one operating more in the energy recovery sector as well as in waste and recycling.
His departure, which had not been forecast outside the business, sees Mr Piddington, who was chief operating officer for energy at Viridor, moving to the top post where he will report to Pennon chief executive Chris Loughlin.
Background
Mr Piddington’s expertise in the energy sector has previously been highlighted by Viridor. The company said: “He has a degree in Applied Chemistry and a MBA, with a record of high achievement within the energy, chemical and managed services industries.” He also previously held senior positions at the RWE Group and BP.
And, he has spoken of the importance of the company’s energy activities: “The Energy Division provides an advantaged growth platform in the alternative energy sector, providing a source of long-term, decentralised, base-load and largely renewable energy.”
Announcing the departure this morning, Sir John Parker, Non-Executive Chairman of Pennon, said: “The Board would like to thank Ian for his valuable contribution to the Company and wishes him every success. Ian leaves Viridor on track to meet management expectations for 2016/17.
“We are delighted to welcome Phil as managing director of Viridor where his wealth of operational experience will be an asset to the company. I am pleased that the depth of talent within the Group has resulted in our being able to fill this role from within the organisation.”
Energy
During his time at the helm Viridor has focussed increasingly on the energy recovery side of its business which is thought to be seen as complementing Pennon’s activities in the water sector. In contrast Viridor’s recycling side has come under some pressure because of volatility in recycling markets.
However, in recent months the energy side has faced some difficulties in Glasgow where the energy recovery facility has been delayed.
Commenting on his departure, Mr McAulay said: “Our £1.5bn investment in ERF assets has been particularly successful and, despite many challenges along the way, we have led the way in the UK in bringing these assets into operation. The contribution of these assets to the company’s future success has been underpinned by securing many long term feedstock supply contracts. Together this has been transformative to earnings for the company.”
Share price
This morning Pennon Group’s shares had fallen 7 pence to 870.5 pence, a fall of 0.8%, whereas the FTSE 100 had risen.
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